KLP Kapitalforvaltning AS Invests $9.16 Million in Broadridge Financial Solutions, Inc. (NYSE:BR)

KLP Kapitalforvaltning AS bought a new stake in shares of Broadridge Financial Solutions, Inc. (NYSE:BR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 40,400 shares of the business services provider’s stock, valued at approximately $9,164,000.

Several other hedge funds have also bought and sold shares of the stock. True Wealth Design LLC grew its stake in shares of Broadridge Financial Solutions by 2,028.6% during the 3rd quarter. True Wealth Design LLC now owns 149 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 142 shares during the period. Fortitude Family Office LLC lifted its holdings in Broadridge Financial Solutions by 246.7% during the fourth quarter. Fortitude Family Office LLC now owns 156 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 111 shares in the last quarter. FSA Wealth Management LLC bought a new position in shares of Broadridge Financial Solutions in the third quarter worth approximately $39,000. Global X Japan Co. Ltd. purchased a new stake in shares of Broadridge Financial Solutions in the fourth quarter worth $41,000. Finally, Truvestments Capital LLC bought a new stake in shares of Broadridge Financial Solutions during the 3rd quarter valued at $45,000. Institutional investors own 90.03% of the company’s stock.

Insider Activity

In other Broadridge Financial Solutions news, Director Robert N. Duelks sold 485 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $237.93, for a total value of $115,396.05. Following the completion of the sale, the director now owns 4,960 shares of the company’s stock, valued at $1,180,132.80. This trade represents a 8.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Laura Matlin sold 514 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $241.60, for a total value of $124,182.40. Following the transaction, the vice president now owns 6,602 shares of the company’s stock, valued at $1,595,043.20. This trade represents a 7.22 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 124,754 shares of company stock valued at $29,397,793. 1.30% of the stock is currently owned by insiders.

Broadridge Financial Solutions Price Performance

BR stock opened at $235.73 on Tuesday. Broadridge Financial Solutions, Inc. has a 52 week low of $188.30 and a 52 week high of $246.58. The firm has a market capitalization of $27.59 billion, a P/E ratio of 36.89 and a beta of 1.05. The company has a fifty day simple moving average of $236.26 and a two-hundred day simple moving average of $227.01. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.64.

Broadridge Financial Solutions (NYSE:BR) last announced its quarterly earnings results on Friday, January 31st. The business services provider reported $1.56 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.24. Broadridge Financial Solutions had a net margin of 11.36% and a return on equity of 44.40%. During the same period in the prior year, the business posted $0.92 earnings per share. Analysts anticipate that Broadridge Financial Solutions, Inc. will post 8.53 earnings per share for the current fiscal year.

Broadridge Financial Solutions Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Thursday, March 13th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend is Thursday, March 13th. Broadridge Financial Solutions’s dividend payout ratio (DPR) is 55.09%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BR shares. DA Davidson reiterated a “neutral” rating and issued a $215.00 price target on shares of Broadridge Financial Solutions in a research note on Tuesday, January 21st. Morgan Stanley increased their target price on Broadridge Financial Solutions from $207.00 to $222.00 and gave the stock an “equal weight” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. boosted their price target on Broadridge Financial Solutions from $231.00 to $249.00 and gave the stock a “neutral” rating in a report on Monday, February 3rd. Wolfe Research restated a “peer perform” rating on shares of Broadridge Financial Solutions in a research note on Thursday, December 12th. Finally, UBS Group lifted their price objective on shares of Broadridge Financial Solutions from $250.00 to $260.00 and gave the company a “neutral” rating in a research report on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Broadridge Financial Solutions has a consensus rating of “Hold” and a consensus price target of $239.17.

Broadridge Financial Solutions Profile

Broadridge Financial Solutions, Inc provides investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services; and distributes regulatory reports, class action, and corporate action/reorganization event information, as well as tax reporting solutions.